LendCare Capital:
What Borrowers Are Saying

What Is LendCare — and Why Should You Care?

LendCare Capital Inc. is a Pickering, Ontario-based point-of-sale lender that finances consumer purchases in the automotive, powersports, home improvement, healthcare, and retail sectors. They operate through dealer and vendor partnerships — which means many borrowers only find out they have a LendCare loan after someone else hands them the paperwork.

The company was acquired by goeasy Ltd. (TSX: GSY), Canada's largest non-prime consumer lender, which also operates easyfinancial and easyhome . LendCare specializes in lending to borrowers who can't qualify at traditional banks — a vulnerable population that becomes especially exposed when a lender's practices are predatory.

After reviewing over 60 recent TrustPilot complaints, a clear and deeply troubling picture emerges: this isn't a company with a few rough edges. The complaints reveal systematic, recurring patterns of unauthorized bank withdrawals, interest rate manipulation, harassment by collections staff, and near-total unresponsiveness to customer concerns.

The Six Recurring Complaint Patterns

Reading through these reviews, the same experiences appear again and again — across provinces, loan types, and time periods. These aren't isolated incidents. Here's what borrowers are consistently reporting:

Unauthorized Withdrawals: The Most Documented Abuse

The single most common complaint across these reviews is money being taken from bank accounts without authorization — or in excess of what was agreed. This happens in several distinct ways:

• After full payoff: Dozens of borrowers report that after paying their loans in full — including providing confirmation numbers, certified cheques, and bank receipts — LendCare continued debiting their accounts. Several had to close their bank accounts entirely to stop it. One borrower describes paying off $9,000 in full, then having LendCare claim they were "3 payments behind" — while the borrower had proof of payment in hand.
• Multiple withdrawals in one period: One borrower documents being charged three separate times in a single week with no explanation. Another reports LendCare attempting to debit their account "22 times in 45 days." A third describes six attempts in a single day. These are not isolated glitches — the "computer error" excuse appears word-for-word in dozens of reviews spanning multiple years.
• On incorrect dates: Borrowers who set up payment schedules describe money being pulled on unauthorized dates, causing cascading NSF fees — which LendCare then tried to hold the borrower responsible for. One family accumulated over $1,000 in NSF fees before they changed banks entirely.
• After account number errors on LendCare's end: Multiple reviewers describe LendCare entering banking details incorrectly, blaming the borrower for the resulting missed payments, adding NSF charges, and sometimes triggering the 10% interest rate penalty — all for an error LendCare created.
• Continuing to withdraw after stop payments: Several borrowers report that stop payments placed with their bank were circumvented — LendCare would adjust the withdrawal amount by as little as one cent to bypass the stop payment instruction, forcing borrowers to close accounts entirely.

What makes this pattern especially alarming is the recurrence across years. These are not one-off glitches. Borrowers report the same cycle: unauthorized withdrawal → NSF fee → call to LendCare → "computer error" excuse → promise of refund → no refund → repeat. One reviewer noted they had heard the "computer glitch" excuse from at least four different staff members over two years.

Interest Rate Manipulation: Bait-and-Switch Financing

Several reviews describe a consistent pattern: the rate discussed or implied during the loan setup process differs significantly from what appears in the final contract — and the rate can also change after the contract is signed. With the second batch of reviews, this picture comes into sharper focus.

Specific examples from across the full review set:

• One missed payment = permanent 10% rate hike: This is the most documented pattern. Reviewers across multiple years describe their rate jumping 10 percentage points after a single missed or late payment — including cases where the payment bounced due to LendCare's own banking errors.
• 26% → 36% for one day late: One borrower missed a payment by a single day and saw their rate spike from 26% to 36%. LendCare then offered to restore the original rate — but only if the borrower purchased additional insurance coverage.
• 14% → 25%: An Ontario borrower describes their vehicle rate jumping after the dealership they bought from went bankrupt — even though the borrower had done nothing wrong.
• Rate doubles for 6 months — or longer: Multiple reviewers describe a clause in the fine print that doubles the interest rate for six months after any late payment — and if the borrower doesn't proactively call to cancel that penalty period after six months, the higher rate continues indefinitely.
• Effective rates of 45–110%: When total cost of borrowing is calculated, multiple borrowers describe paying back 3–4× the purchase price. One borrower financed a $19,000 purchase at roughly $600/month for five years — with a balloon payment of $20,000 still owing at the end, putting total repayment near $70,000.
• A $9,000 Sea-Doo becoming a $41,000 obligation: One of the starkest examples in the entire review set — a borrower describes a used watercraft financed at a price that would result in over four times the purchase value being repaid.

The Slater Vecchio class action specifically targets the interest rate penalty pattern: loan clauses that allow LendCare to raise rates after a missed or late payment. This practice may violate Canadian consumer protection law, particularly for borrowers who were not clearly informed of such terms at signing.

Collections Harassment: 35 Missed Calls and Worse

The collections experiences described in these reviews go well beyond normal debt recovery practice. What makes them particularly striking is that many of these calls were directed at borrowers who had either paid in full or whose accounts were in dispute precisely because of LendCare's own errors.

• 52 calls in a single day — over $18: One of the most striking accounts in the entire review set involves a borrower whose $18/month vet clinic payment bounced due to bank fraud (completely unrelated to LendCare). Before the borrower even had a chance to sort out the banking situation, LendCare's collections department placed 52 calls in one day. When the calls went unanswered, they would call back — then hang up when answered.
• Calls on holidays and early mornings: Reviewers describe receiving collections calls on Easter Monday and as early as 6:30 AM.
• Abusive and discriminatory language: One reviewer describes a collections agent telling her "I don't care about that nor do I need to know" while chewing food on the phone — and later making a comment about "your kind of people" that the borrower interpreted as discriminatory. In another case, a collections agent said "Did you go to school?" on repeat to a borrower who had already paid in full.
• No internal communication between departments: A pattern emerges where LendCare's collections arm and billing arm appear to have no communication with each other. Borrowers who have paid off their loans — and have confirmation from the billing department — continue to be aggressively pursued by collections.
• Threatening credit scores as leverage: Multiple reviewers describe staff threatening credit score damage as a tool to force payment, even in cases where LendCare itself was at fault.

GAP Insurance: Promises Made, Promises Broken

GAP (Guaranteed Asset Protection) insurance is an add-on that covers the difference between what you owe on a vehicle and what your regular insurance pays out in a total loss. The reviews reveal a specific and troubling pattern around how LendCare handles GAP cancellations:

• Borrowers are told at the time of signing that GAP insurance can be cancelled at any time — particularly if the vehicle is sold or traded.
• When they attempt to cancel, they are suddenly told cancellation is not possible.
• Mysterious balances — one reviewer was told they suddenly owed $1,800 — appear with no clear explanation of how they were calculated.
• Borrowers report being unable to find out which insurance company actually provides the GAP coverage, making it impossible to escalate the dispute independently.

Alleged Fraud and Document Manipulation

Among the most serious allegations in the broader review set are claims that go beyond billing errors or poor customer service — and into conduct that reviewers describe as outright fraud. These are individual accounts that have not been independently verified, but their specificity and the volume of similar claims across years make them worth documenting.

• Forged signatures: One reviewer claims LendCare forged their signature on documents and attempted to tell their insurance company the borrower owed significantly more than the actual loan amount. The reviewer states police, lawyers, and the bank are investigating.
• Loans issued on undelivered or destroyed goods: Multiple borrowers describe loans being processed and payments withdrawn for powersports equipment or trailers that were either never delivered, arrived damaged, or were taken back by the dealer — with LendCare continuing to demand payment regardless.
• Contracts rewritten without consent: One borrower explicitly describes LendCare rewriting a car loan as a cash loan without authorization, via an addendum bearing only the borrower's personal information and no signature.
• Social media posts deleted: One Ontario borrower describes LendCare removing their complaint posts from Google and Twitter — posts the borrower characterizes as factual and non-defamatory — as part of a pattern of suppressing customer feedback.
• Phishing / impersonation scams operating under the LendCare name: Multiple reviewers describe a separate scam operation — unrelated to LendCare Capital Inc. in Pickering — that uses the LendCare name to solicit gift cards in exchange for fake loan approvals. Anyone approached by phone or email with a "LendCare loan offer" should verify the contact originated from lendcare.ca before engaging.

Who Gets Hurt Most: Targeting the Financially Vulnerable

One of the most consistent threads across all 120+ reviews is who is borrowing from LendCare: people who cannot qualify at traditional banks. New immigrants building credit. People recovering from medical emergencies. Borrowers dealing with divorce, job loss, or disability. The reviews reveal a pattern where LendCare's worst treatment tends to be directed specifically at borrowers in these circumstances — the people with the least ability to fight back.

• Medical crisis borrowers: One reviewer took out a loan in January 2025 to pay for emergency veterinary care for a dying pet. After the pet passed away and the loan was paid off months later, LendCare continued calling and attempting withdrawals for months — while the borrower was already grieving.
• Borrowers who fall ill mid-loan: Multiple reviews describe borrowers who became seriously ill during their loan term — including one who was hospitalized and connected to a breathing cylinder — being met with aggressive collections while trying to communicate their situation. In one case, an agent responded "I don't care about that" when a borrower explained they were in hospital.
• Disability and income disruption: A borrower on provincial disability describes monthly payment amounts that made no financial sense for someone on a fixed income — and a volunteer repossession process that took two weeks, during which LendCare continued blaming and threatening the borrower while refusing to pick up the vehicle.
• Immigrants and first-time borrowers: Multiple reviews specifically describe LendCare being presented as the "only option" to new Canadians with limited credit history — and then charging rates that reviewers describe as 16–45% or higher with terms that were never fully explained.
• People in consumer proposals: At least one borrower describes being pushed into a consumer proposal because of LendCare's unauthorized withdrawals — having no other way to stop the account bleed.

The goeasy Connection: A Company Under Scrutiny

LendCare's problems don't exist in a vacuum. Its parent company, goeasy Ltd. (TSX: GSY), is currently facing serious corporate and legal pressure that directly implicates LendCare's operations.

On March 10, 2026, goeasy announced a massive $178 million charge-off in Q4 2025 directly tied to LendCare's loan book. The company also disclosed it would need to correct its historical financial reporting going back to 2024 , because certain customer payments had been recorded as received before they were actually settled — some of which were ultimately never collected at all. This misrepresentation distorted the company's publicly reported delinquency figures.

The fallout was severe: goeasy's share price dropped more than 56% in a single trading session , from $84.44 to $36.67. The company has since suspended its dividend and share buybacks, entered an accommodation agreement with its lenders, replaced leadership at LendCare, and withdrawn its three-year financial forecast.

If You Have a LendCare Loan: What to Do Right Now

Based on the patterns in these reviews, here are the practical steps that are most likely to protect you — drawn from what borrowers who had any success describe doing.